[Form 4] IBEX Ltd Insider Trading Activity

Rhea-AI Filing Summary

Bruce Neil Dawson, a director and the company's Chief Sales and CS Officer, reported a sale of 350 common shares of IBEX Ltd on 08/26/2025 at an average price of $29.13 per share. The sale was made to satisfy tax withholding obligations arising from the vesting of restricted stock units and is described as required, not a discretionary trade. After the transaction the reporting person beneficially owned 5,257 shares. The Form 4 was filed as an individual report and signed by an attorney-in-fact.

Positive

• Sale was non-discretionary and specifically to cover tax withholding for vested restricted stock units, reducing signaling risk.
• Transparent reporting under Section 16 with transaction details (shares, price, and resulting ownership) provided.

Negative

• Insider ownership decreased by 350 shares to a beneficial holding of 5,257 shares.
• Limited scale of disclosure—single routine transaction provides minimal new information about company operations or strategy.

Insights

Securities/Financial Analyst

TL;DR: Insider sold a small number of shares to cover RSU tax withholding; transaction appears routine and non-discretionary.

The reported sale of 350 shares at $29.13 is explicitly tied to tax withholding for vested restricted stock units, indicating a mechanical disposition rather than a strategic or market-timing sale. The post-transaction beneficial holding of 5,257 shares remains modest. This transaction is unlikely to be material to IBEX Ltd's capitalization or signal a change in insider confidence given its stated purpose and size.

Corporate Governance Expert

TL;DR: Disclosure follows Section 16 requirements and clarifies the nature of the sale; governance procedures appear followed.

The Form 4 characterizes the sale as required to satisfy tax withholding connected to RSU vesting and was reported individually. The use of an attorney-in-fact to sign the filing is a common administrative practice. There is no indication in the filing of departures from reporting obligations or of related-party issues. From a governance perspective, this is a routine, compliant disclosure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Dawson Bruce Neil

(Last) (First) (Middle)

C/O IBEX LIMITED

1717 PENNSYLVANIA AVENUE NW, SUITE 825

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IBEX Ltd [ IBEX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Sales and CS Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	08/26/2025		S(1)		350	D	$29.13	5,257	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units and do not represent discretionary trades by the Reporting Person.

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did IBEX insider Bruce Neil Dawson sell on Form 4?

The Form 4 reports the sale of 350 common shares of IBEX Ltd.

Why were the IBEX shares sold by the insider?

The sale was made to satisfy tax withholding obligations arising from the vesting of restricted stock units and is not a discretionary trade.

At what price were the IBEX shares sold?

The reported sale price was $29.13 per share.

How many IBEX shares does the reporting person own after the sale?

After the transaction the reporting person beneficially owned 5,257 shares.

Was the Form 4 filed individually or jointly for IBEX insider activity?

The filing indicates it was reported by one reporting person (individual filing).